{smcl}
{com}{sf}{ul off}{txt}{.-}
      name:  {res}<unnamed>
       {txt}log:  {res}C:\Users\myogo\Princeton Dropbox\Motohiro Yogo\Koijen Yogo - International\JPE\Replication\Code\5 Decomposition\Decomposition0_5.smcl
  {txt}log type:  {res}smcl
 {txt}opened on:  {res}31 Oct 2025, 15:59:28
{txt}
{com}. /* Define local and global variables */
> 
> do global;
{txt}
{com}. /* global.do (STATA)
>         Define global variables in "Decomposition".
>         by Ralph Koijen & Motohiro Yogo */
. 
. #delimit ;
{txt}delimiter now ;
{com}. clear all;
{res}{txt}
{com}. do "../3 Estimation/global";
{txt}
{com}. /* global.do (STATA)
>         Define global variables in "Estimation".
>         by Ralph Koijen & Motohiro Yogo */
. 
. #delimit ;
{txt}delimiter now ;
{com}. clear all;
{res}{txt}
{com}. global macro = "LgdpP LgdpPpc Gcpi vol drate";
{txt}
{com}. global bilateral = "dist";
{txt}
{com}. global dummies = "Iown I_CR I_OC Iyear_*";
{txt}
{com}. global dummiesA = "Itype_*";
{txt}
{com}. global iv = "IVexdemand";
{txt}
{com}. global ivA = "LSdelta*";
{txt}
{com}. 
{txt}end of do-file

{com}. global step_W = 1;
{txt}
{com}. global step_fx = .5;
{txt}
{com}. global step_mb = .5;
{txt}
{com}. global Nstep = 1e4;
{txt}
{com}. global Mgap = 1e-9;
{txt}
{com}. 
{txt}end of do-file

{com}. /* Call the ado file */
> 
> forval y = 2015/2017 {c -(};
{txt}  2{com}.         Decomposition 0 `y';
{txt}  3{com}. {c )-};
2015
0     1     1.776e-14     1.776e-14     8.882e-16
{res}
{smcl}
{reset}{...}
{hline 17}{c -}{c TT}{c -}{c -}{hline 27}{c -}{c -}{c -}{hline 6}{c -}{c -}{c -}{hline 19}{c -}{c -}{c -}{hline 13}{c -}{c -}{c -}{hline 13}
{space 17} {c |}  Number of nonmissing values   Median   Interquartile range   Minimum value   Maximum value
{hline 17}{c -}{c +}{c -}{c -}{hline 27}{c -}{c -}{c -}{hline 6}{c -}{c -}{c -}{hline 19}{c -}{c -}{c -}{hline 13}{c -}{c -}{c -}{hline 13}
Asset type{space 7} {c |}  {space 27}   {space 6}   {space 19}   {space 13}   {space 13}
  Short-term debt {c |}  {space 22}{result:38.00}   {space 1}{result:-0.00}   {space 15}{result:0.00}   {space 8}{result:-0.00}   {space 9}{result:0.00}
  Long-term debt{space 1} {c |}  {space 22}{result:38.00}   {space 1}{result:-0.00}   {space 15}{result:0.00}   {space 8}{result:-0.00}   {space 9}{result:0.00}
  Equity{space 9} {c |}  {space 22}{result:38.00}   {space 2}{result:0.00}   {space 15}{result:0.00}   {space 8}{result:-0.00}   {space 9}{result:0.00}
{hline 17}{c -}{c BT}{c -}{c -}{hline 27}{c -}{c -}{c -}{hline 6}{c -}{c -}{c -}{hline 19}{c -}{c -}{c -}{hline 13}{c -}{c -}{c -}{hline 13}
1     2941     3.989e-10     9.975e-10     4.694e-08
{res}
{smcl}
{reset}{...}
{hline 17}{c -}{c TT}{c -}{c -}{hline 27}{c -}{c -}{c -}{hline 6}{c -}{c -}{c -}{hline 19}{c -}{c -}{c -}{hline 13}{c -}{c -}{c -}{hline 13}
{space 17} {c |}  Number of nonmissing values   Median   Interquartile range   Minimum value   Maximum value
{hline 17}{c -}{c +}{c -}{c -}{hline 27}{c -}{c -}{c -}{hline 6}{c -}{c -}{c -}{hline 19}{c -}{c -}{c -}{hline 13}{c -}{c -}{c -}{hline 13}
Asset type{space 7} {c |}  {space 27}   {space 6}   {space 19}   {space 13}   {space 13}
  Short-term debt {c |}  {space 22}{result:38.00}   {space 2}{result:0.00}   {space 15}{result:0.01}   {space 8}{result:-0.04}   {space 9}{result:0.06}
  Long-term debt{space 1} {c |}  {space 22}{result:38.00}   {space 1}{result:-0.00}   {space 15}{result:0.01}   {space 8}{result:-0.16}   {space 9}{result:0.03}
  Equity{space 9} {c |}  {space 22}{result:38.00}   {space 2}{result:0.00}   {space 15}{result:0.00}   {space 8}{result:-0.01}   {space 9}{result:0.03}
{hline 17}{c -}{c BT}{c -}{c -}{hline 27}{c -}{c -}{c -}{hline 6}{c -}{c -}{c -}{hline 19}{c -}{c -}{c -}{hline 13}{c -}{c -}{c -}{hline 13}
2     2881     3.980e-10     9.983e-10     4.500e-08
{res}
{smcl}
{reset}{...}
{hline 17}{c -}{c TT}{c -}{c -}{hline 27}{c -}{c -}{c -}{hline 6}{c -}{c -}{c -}{hline 19}{c -}{c -}{c -}{hline 13}{c -}{c -}{c -}{hline 13}
{space 17} {c |}  Number of nonmissing values   Median   Interquartile range   Minimum value   Maximum value
{hline 17}{c -}{c +}{c -}{c -}{hline 27}{c -}{c -}{c -}{hline 6}{c -}{c -}{c -}{hline 19}{c -}{c -}{c -}{hline 13}{c -}{c -}{c -}{hline 13}
Asset type{space 7} {c |}  {space 27}   {space 6}   {space 19}   {space 13}   {space 13}
  Short-term debt {c |}  {space 22}{result:38.00}   {space 2}{result:0.00}   {space 15}{result:0.01}   {space 8}{result:-0.05}   {space 9}{result:0.13}
  Long-term debt{space 1} {c |}  {space 22}{result:38.00}   {space 2}{result:0.00}   {space 15}{result:0.01}   {space 8}{result:-0.15}   {space 9}{result:0.07}
  Equity{space 9} {c |}  {space 22}{result:38.00}   {space 2}{result:0.00}   {space 15}{result:0.00}   {space 8}{result:-0.01}   {space 9}{result:0.04}
{hline 17}{c -}{c BT}{c -}{c -}{hline 27}{c -}{c -}{c -}{hline 6}{c -}{c -}{c -}{hline 19}{c -}{c -}{c -}{hline 13}{c -}{c -}{c -}{hline 13}
3     2633     3.987e-10     9.969e-10     4.489e-08
{res}
{smcl}
{reset}{...}
{hline 17}{c -}{c TT}{c -}{c -}{hline 27}{c -}{c -}{c -}{hline 6}{c -}{c -}{c -}{hline 19}{c -}{c -}{c -}{hline 13}{c -}{c -}{c -}{hline 13}
{space 17} {c |}  Number of nonmissing values   Median   Interquartile range   Minimum value   Maximum value
{hline 17}{c -}{c +}{c -}{c -}{hline 27}{c -}{c -}{c -}{hline 6}{c -}{c -}{c -}{hline 19}{c -}{c -}{c -}{hline 13}{c -}{c -}{c -}{hline 13}
Asset type{space 7} {c |}  {space 27}   {space 6}   {space 19}   {space 13}   {space 13}
  Short-term debt {c |}  {space 22}{result:38.00}   {space 2}{result:0.00}   {space 15}{result:0.01}   {space 8}{result:-0.03}   {space 9}{result:0.11}
  Long-term debt{space 1} {c |}  {space 22}{result:38.00}   {space 2}{result:0.00}   {space 15}{result:0.01}   {space 8}{result:-0.15}   {space 9}{result:0.09}
  Equity{space 9} {c |}  {space 22}{result:38.00}   {space 2}{result:0.00}   {space 15}{result:0.00}   {space 8}{result:-0.01}   {space 9}{result:0.04}
{hline 17}{c -}{c BT}{c -}{c -}{hline 27}{c -}{c -}{c -}{hline 6}{c -}{c -}{c -}{hline 19}{c -}{c -}{c -}{hline 13}{c -}{c -}{c -}{hline 13}
4     2595     3.933e-10     9.954e-10     4.378e-08
{res}
{smcl}
{reset}{...}
{hline 17}{c -}{c TT}{c -}{c -}{hline 27}{c -}{c -}{c -}{hline 6}{c -}{c -}{c -}{hline 19}{c -}{c -}{c -}{hline 13}{c -}{c -}{c -}{hline 13}
{space 17} {c |}  Number of nonmissing values   Median   Interquartile range   Minimum value   Maximum value
{hline 17}{c -}{c +}{c -}{c -}{hline 27}{c -}{c -}{c -}{hline 6}{c -}{c -}{c -}{hline 19}{c -}{c -}{c -}{hline 13}{c -}{c -}{c -}{hline 13}
Asset type{space 7} {c |}  {space 27}   {space 6}   {space 19}   {space 13}   {space 13}
  Short-term debt {c |}  {space 22}{result:38.00}   {space 2}{result:0.00}   {space 15}{result:0.01}   {space 8}{result:-0.02}   {space 9}{result:0.08}
  Long-term debt{space 1} {c |}  {space 22}{result:38.00}   {space 2}{result:0.00}   {space 15}{result:0.01}   {space 8}{result:-0.14}   {space 9}{result:0.04}
  Equity{space 9} {c |}  {space 22}{result:38.00}   {space 2}{result:0.00}   {space 15}{result:0.00}   {space 8}{result:-0.01}   {space 9}{result:0.04}
{hline 17}{c -}{c BT}{c -}{c -}{hline 27}{c -}{c -}{c -}{hline 6}{c -}{c -}{c -}{hline 19}{c -}{c -}{c -}{hline 13}{c -}{c -}{c -}{hline 13}
5     2630     3.931e-10     9.955e-10     4.403e-08
{res}
{smcl}
{reset}{...}
{hline 17}{c -}{c TT}{c -}{c -}{hline 27}{c -}{c -}{c -}{hline 6}{c -}{c -}{c -}{hline 19}{c -}{c -}{c -}{hline 13}{c -}{c -}{c -}{hline 13}
{space 17} {c |}  Number of nonmissing values   Median   Interquartile range   Minimum value   Maximum value
{hline 17}{c -}{c +}{c -}{c -}{hline 27}{c -}{c -}{c -}{hline 6}{c -}{c -}{c -}{hline 19}{c -}{c -}{c -}{hline 13}{c -}{c -}{c -}{hline 13}
Asset type{space 7} {c |}  {space 27}   {space 6}   {space 19}   {space 13}   {space 13}
  Short-term debt {c |}  {space 22}{result:38.00}   {space 2}{result:0.00}   {space 15}{result:0.01}   {space 8}{result:-0.16}   {space 9}{result:0.08}
  Long-term debt{space 1} {c |}  {space 22}{result:38.00}   {space 1}{result:-0.00}   {space 15}{result:0.01}   {space 8}{result:-0.14}   {space 9}{result:0.07}
  Equity{space 9} {c |}  {space 22}{result:38.00}   {space 2}{result:0.00}   {space 15}{result:0.00}   {space 8}{result:-0.00}   {space 9}{result:0.04}
{hline 17}{c -}{c BT}{c -}{c -}{hline 27}{c -}{c -}{c -}{hline 6}{c -}{c -}{c -}{hline 19}{c -}{c -}{c -}{hline 13}{c -}{c -}{c -}{hline 13}
6     2809     4.036e-10     9.983e-10     4.721e-08
{res}
{smcl}
{reset}{...}
{hline 17}{c -}{c TT}{c -}{c -}{hline 27}{c -}{c -}{c -}{hline 6}{c -}{c -}{c -}{hline 19}{c -}{c -}{c -}{hline 13}{c -}{c -}{c -}{hline 13}
{space 17} {c |}  Number of nonmissing values   Median   Interquartile range   Minimum value   Maximum value
{hline 17}{c -}{c +}{c -}{c -}{hline 27}{c -}{c -}{c -}{hline 6}{c -}{c -}{c -}{hline 19}{c -}{c -}{c -}{hline 13}{c -}{c -}{c -}{hline 13}
Asset type{space 7} {c |}  {space 27}   {space 6}   {space 19}   {space 13}   {space 13}
  Short-term debt {c |}  {space 22}{result:38.00}   {space 2}{result:0.00}   {space 15}{result:0.01}   {space 8}{result:-0.18}   {space 9}{result:0.08}
  Long-term debt{space 1} {c |}  {space 22}{result:38.00}   {space 2}{result:0.00}   {space 15}{result:0.02}   {space 8}{result:-0.02}   {space 9}{result:0.07}
  Equity{space 9} {c |}  {space 22}{result:38.00}   {space 2}{result:0.00}   {space 15}{result:0.00}   {space 8}{result:-0.00}   {space 9}{result:0.01}
{hline 17}{c -}{c BT}{c -}{c -}{hline 27}{c -}{c -}{c -}{hline 6}{c -}{c -}{c -}{hline 19}{c -}{c -}{c -}{hline 13}{c -}{c -}{c -}{hline 13}
7     2481     4.109e-10     9.973e-10     4.870e-08
{res}
{smcl}
{reset}{...}
{hline 17}{c -}{c TT}{c -}{c -}{hline 27}{c -}{c -}{c -}{hline 6}{c -}{c -}{c -}{hline 19}{c -}{c -}{c -}{hline 13}{c -}{c -}{c -}{hline 13}
{space 17} {c |}  Number of nonmissing values   Median   Interquartile range   Minimum value   Maximum value
{hline 17}{c -}{c +}{c -}{c -}{hline 27}{c -}{c -}{c -}{hline 6}{c -}{c -}{c -}{hline 19}{c -}{c -}{c -}{hline 13}{c -}{c -}{c -}{hline 13}
Asset type{space 7} {c |}  {space 27}   {space 6}   {space 19}   {space 13}   {space 13}
  Short-term debt {c |}  {space 22}{result:39.00}   {space 2}{result:0.00}   {space 15}{result:0.00}   {space 8}{result:-0.03}   {space 9}{result:0.01}
  Long-term debt{space 1} {c |}  {space 22}{result:39.00}   {space 2}{result:0.00}   {space 15}{result:0.00}   {space 8}{result:-0.01}   {space 9}{result:0.00}
  Equity{space 9} {c |}  {space 22}{result:39.00}   {space 2}{result:0.00}   {space 15}{result:0.00}   {space 8}{result:-0.02}   {space 9}{result:0.00}
{hline 17}{c -}{c BT}{c -}{c -}{hline 27}{c -}{c -}{c -}{hline 6}{c -}{c -}{c -}{hline 19}{c -}{c -}{c -}{hline 13}{c -}{c -}{c -}{hline 13}
8     2411     4.099e-10     9.961e-10     4.880e-08
{res}
{smcl}
{reset}{...}
{hline 17}{c -}{c TT}{c -}{c -}{hline 27}{c -}{c -}{c -}{hline 6}{c -}{c -}{c -}{hline 19}{c -}{c -}{c -}{hline 13}{c -}{c -}{c -}{hline 13}
{space 17} {c |}  Number of nonmissing values   Median   Interquartile range   Minimum value   Maximum value
{hline 17}{c -}{c +}{c -}{c -}{hline 27}{c -}{c -}{c -}{hline 6}{c -}{c -}{c -}{hline 19}{c -}{c -}{c -}{hline 13}{c -}{c -}{c -}{hline 13}
Asset type{space 7} {c |}  {space 27}   {space 6}   {space 19}   {space 13}   {space 13}
  Short-term debt {c |}  {space 22}{result:39.00}   {space 2}{result:0.00}   {space 15}{result:0.00}   {space 9}{result:0.00}   {space 9}{result:0.00}
  Long-term debt{space 1} {c |}  {space 22}{result:39.00}   {space 2}{result:0.00}   {space 15}{result:0.00}   {space 9}{result:0.00}   {space 9}{result:0.00}
  Equity{space 9} {c |}  {space 22}{result:39.00}   {space 2}{result:0.00}   {space 15}{result:0.00}   {space 8}{result:-0.00}   {space 9}{result:0.00}
{hline 17}{c -}{c BT}{c -}{c -}{hline 27}{c -}{c -}{c -}{hline 6}{c -}{c -}{c -}{hline 19}{c -}{c -}{c -}{hline 13}{c -}{c -}{c -}{hline 13}
2016
0     1     4.174e-14     3.997e-14     6.217e-15
{res}
{smcl}
{reset}{...}
{hline 17}{c -}{c TT}{c -}{c -}{hline 27}{c -}{c -}{c -}{hline 6}{c -}{c -}{c -}{hline 19}{c -}{c -}{c -}{hline 13}{c -}{c -}{c -}{hline 13}
{space 17} {c |}  Number of nonmissing values   Median   Interquartile range   Minimum value   Maximum value
{hline 17}{c -}{c +}{c -}{c -}{hline 27}{c -}{c -}{c -}{hline 6}{c -}{c -}{c -}{hline 19}{c -}{c -}{c -}{hline 13}{c -}{c -}{c -}{hline 13}
Asset type{space 7} {c |}  {space 27}   {space 6}   {space 19}   {space 13}   {space 13}
  Short-term debt {c |}  {space 22}{result:39.00}   {space 2}{result:0.00}   {space 15}{result:0.00}   {space 8}{result:-0.00}   {space 9}{result:0.00}
  Long-term debt{space 1} {c |}  {space 22}{result:39.00}   {space 1}{result:-0.00}   {space 15}{result:0.00}   {space 8}{result:-0.00}   {space 9}{result:0.00}
  Equity{space 9} {c |}  {space 22}{result:39.00}   {space 2}{result:0.00}   {space 15}{result:0.00}   {space 8}{result:-0.00}   {space 9}{result:0.00}
{hline 17}{c -}{c BT}{c -}{c -}{hline 27}{c -}{c -}{c -}{hline 6}{c -}{c -}{c -}{hline 19}{c -}{c -}{c -}{hline 13}{c -}{c -}{c -}{hline 13}
1     2875     4.092e-10     9.984e-10     4.771e-08
{res}
{smcl}
{reset}{...}
{hline 17}{c -}{c TT}{c -}{c -}{hline 27}{c -}{c -}{c -}{hline 6}{c -}{c -}{c -}{hline 19}{c -}{c -}{c -}{hline 13}{c -}{c -}{c -}{hline 13}
{space 17} {c |}  Number of nonmissing values   Median   Interquartile range   Minimum value   Maximum value
{hline 17}{c -}{c +}{c -}{c -}{hline 27}{c -}{c -}{c -}{hline 6}{c -}{c -}{c -}{hline 19}{c -}{c -}{c -}{hline 13}{c -}{c -}{c -}{hline 13}
Asset type{space 7} {c |}  {space 27}   {space 6}   {space 19}   {space 13}   {space 13}
  Short-term debt {c |}  {space 22}{result:39.00}   {space 1}{result:-0.01}   {space 15}{result:0.01}   {space 8}{result:-0.07}   {space 9}{result:0.06}
  Long-term debt{space 1} {c |}  {space 22}{result:39.00}   {space 1}{result:-0.01}   {space 15}{result:0.01}   {space 8}{result:-0.06}   {space 9}{result:0.09}
  Equity{space 9} {c |}  {space 22}{result:39.00}   {space 1}{result:-0.00}   {space 15}{result:0.00}   {space 8}{result:-0.01}   {space 9}{result:0.01}
{hline 17}{c -}{c BT}{c -}{c -}{hline 27}{c -}{c -}{c -}{hline 6}{c -}{c -}{c -}{hline 19}{c -}{c -}{c -}{hline 13}{c -}{c -}{c -}{hline 13}
2     2526     4.120e-10     1.000e-09     4.980e-08
{res}
{smcl}
{reset}{...}
{hline 17}{c -}{c TT}{c -}{c -}{hline 27}{c -}{c -}{c -}{hline 6}{c -}{c -}{c -}{hline 19}{c -}{c -}{c -}{hline 13}{c -}{c -}{c -}{hline 13}
{space 17} {c |}  Number of nonmissing values   Median   Interquartile range   Minimum value   Maximum value
{hline 17}{c -}{c +}{c -}{c -}{hline 27}{c -}{c -}{c -}{hline 6}{c -}{c -}{c -}{hline 19}{c -}{c -}{c -}{hline 13}{c -}{c -}{c -}{hline 13}
Asset type{space 7} {c |}  {space 27}   {space 6}   {space 19}   {space 13}   {space 13}
  Short-term debt {c |}  {space 22}{result:39.00}   {space 1}{result:-0.01}   {space 15}{result:0.02}   {space 8}{result:-0.34}   {space 9}{result:0.05}
  Long-term debt{space 1} {c |}  {space 22}{result:39.00}   {space 1}{result:-0.01}   {space 15}{result:0.02}   {space 8}{result:-0.07}   {space 9}{result:0.07}
  Equity{space 9} {c |}  {space 22}{result:39.00}   {space 1}{result:-0.00}   {space 15}{result:0.00}   {space 8}{result:-0.02}   {space 9}{result:0.01}
{hline 17}{c -}{c BT}{c -}{c -}{hline 27}{c -}{c -}{c -}{hline 6}{c -}{c -}{c -}{hline 19}{c -}{c -}{c -}{hline 13}{c -}{c -}{c -}{hline 13}
3     2579     4.128e-10     9.983e-10     4.865e-08
{res}
{smcl}
{reset}{...}
{hline 17}{c -}{c TT}{c -}{c -}{hline 27}{c -}{c -}{c -}{hline 6}{c -}{c -}{c -}{hline 19}{c -}{c -}{c -}{hline 13}{c -}{c -}{c -}{hline 13}
{space 17} {c |}  Number of nonmissing values   Median   Interquartile range   Minimum value   Maximum value
{hline 17}{c -}{c +}{c -}{c -}{hline 27}{c -}{c -}{c -}{hline 6}{c -}{c -}{c -}{hline 19}{c -}{c -}{c -}{hline 13}{c -}{c -}{c -}{hline 13}
Asset type{space 7} {c |}  {space 27}   {space 6}   {space 19}   {space 13}   {space 13}
  Short-term debt {c |}  {space 22}{result:39.00}   {space 1}{result:-0.01}   {space 15}{result:0.03}   {space 8}{result:-0.33}   {space 9}{result:0.04}
  Long-term debt{space 1} {c |}  {space 22}{result:39.00}   {space 1}{result:-0.01}   {space 15}{result:0.01}   {space 8}{result:-0.07}   {space 9}{result:0.08}
  Equity{space 9} {c |}  {space 22}{result:39.00}   {space 1}{result:-0.00}   {space 15}{result:0.00}   {space 8}{result:-0.01}   {space 9}{result:0.01}
{hline 17}{c -}{c BT}{c -}{c -}{hline 27}{c -}{c -}{c -}{hline 6}{c -}{c -}{c -}{hline 19}{c -}{c -}{c -}{hline 13}{c -}{c -}{c -}{hline 13}
4     2851     4.151e-10     9.967e-10     4.434e-08
{res}
{smcl}
{reset}{...}
{hline 17}{c -}{c TT}{c -}{c -}{hline 27}{c -}{c -}{c -}{hline 6}{c -}{c -}{c -}{hline 19}{c -}{c -}{c -}{hline 13}{c -}{c -}{c -}{hline 13}
{space 17} {c |}  Number of nonmissing values   Median   Interquartile range   Minimum value   Maximum value
{hline 17}{c -}{c +}{c -}{c -}{hline 27}{c -}{c -}{c -}{hline 6}{c -}{c -}{c -}{hline 19}{c -}{c -}{c -}{hline 13}{c -}{c -}{c -}{hline 13}
Asset type{space 7} {c |}  {space 27}   {space 6}   {space 19}   {space 13}   {space 13}
  Short-term debt {c |}  {space 22}{result:39.00}   {space 2}{result:0.00}   {space 15}{result:0.01}   {space 8}{result:-0.28}   {space 9}{result:0.09}
  Long-term debt{space 1} {c |}  {space 22}{result:39.00}   {space 1}{result:-0.00}   {space 15}{result:0.01}   {space 8}{result:-0.06}   {space 9}{result:0.11}
  Equity{space 9} {c |}  {space 22}{result:39.00}   {space 1}{result:-0.00}   {space 15}{result:0.00}   {space 8}{result:-0.01}   {space 9}{result:0.01}
{hline 17}{c -}{c BT}{c -}{c -}{hline 27}{c -}{c -}{c -}{hline 6}{c -}{c -}{c -}{hline 19}{c -}{c -}{c -}{hline 13}{c -}{c -}{c -}{hline 13}
5     2545     4.180e-10     9.948e-10     4.481e-08
{res}
{smcl}
{reset}{...}
{hline 17}{c -}{c TT}{c -}{c -}{hline 27}{c -}{c -}{c -}{hline 6}{c -}{c -}{c -}{hline 19}{c -}{c -}{c -}{hline 13}{c -}{c -}{c -}{hline 13}
{space 17} {c |}  Number of nonmissing values   Median   Interquartile range   Minimum value   Maximum value
{hline 17}{c -}{c +}{c -}{c -}{hline 27}{c -}{c -}{c -}{hline 6}{c -}{c -}{c -}{hline 19}{c -}{c -}{c -}{hline 13}{c -}{c -}{c -}{hline 13}
Asset type{space 7} {c |}  {space 27}   {space 6}   {space 19}   {space 13}   {space 13}
  Short-term debt {c |}  {space 22}{result:39.00}   {space 2}{result:0.00}   {space 15}{result:0.01}   {space 8}{result:-0.28}   {space 9}{result:0.03}
  Long-term debt{space 1} {c |}  {space 22}{result:39.00}   {space 1}{result:-0.00}   {space 15}{result:0.00}   {space 8}{result:-0.06}   {space 9}{result:0.07}
  Equity{space 9} {c |}  {space 22}{result:39.00}   {space 2}{result:0.00}   {space 15}{result:0.00}   {space 8}{result:-0.01}   {space 9}{result:0.01}
{hline 17}{c -}{c BT}{c -}{c -}{hline 27}{c -}{c -}{c -}{hline 6}{c -}{c -}{c -}{hline 19}{c -}{c -}{c -}{hline 13}{c -}{c -}{c -}{hline 13}
6     2734     4.284e-10     9.977e-10     4.712e-08
{res}
{smcl}
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{hline 17}{c -}{c TT}{c -}{c -}{hline 27}{c -}{c -}{c -}{hline 6}{c -}{c -}{c -}{hline 19}{c -}{c -}{c -}{hline 13}{c -}{c -}{c -}{hline 13}
{space 17} {c |}  Number of nonmissing values   Median   Interquartile range   Minimum value   Maximum value
{hline 17}{c -}{c +}{c -}{c -}{hline 27}{c -}{c -}{c -}{hline 6}{c -}{c -}{c -}{hline 19}{c -}{c -}{c -}{hline 13}{c -}{c -}{c -}{hline 13}
Asset type{space 7} {c |}  {space 27}   {space 6}   {space 19}   {space 13}   {space 13}
  Short-term debt {c |}  {space 22}{result:39.00}   {space 2}{result:0.00}   {space 15}{result:0.00}   {space 8}{result:-0.29}   {space 9}{result:0.03}
  Long-term debt{space 1} {c |}  {space 22}{result:39.00}   {space 1}{result:-0.00}   {space 15}{result:0.00}   {space 8}{result:-0.06}   {space 9}{result:0.08}
  Equity{space 9} {c |}  {space 22}{result:39.00}   {space 2}{result:0.00}   {space 15}{result:0.00}   {space 8}{result:-0.01}   {space 9}{result:0.01}
{hline 17}{c -}{c BT}{c -}{c -}{hline 27}{c -}{c -}{c -}{hline 6}{c -}{c -}{c -}{hline 19}{c -}{c -}{c -}{hline 13}{c -}{c -}{c -}{hline 13}
7     2569     4.282e-10     9.954e-10     4.705e-08
{res}
{smcl}
{reset}{...}
{hline 17}{c -}{c TT}{c -}{c -}{hline 27}{c -}{c -}{c -}{hline 6}{c -}{c -}{c -}{hline 19}{c -}{c -}{c -}{hline 13}{c -}{c -}{c -}{hline 13}
{space 17} {c |}  Number of nonmissing values   Median   Interquartile range   Minimum value   Maximum value
{hline 17}{c -}{c +}{c -}{c -}{hline 27}{c -}{c -}{c -}{hline 6}{c -}{c -}{c -}{hline 19}{c -}{c -}{c -}{hline 13}{c -}{c -}{c -}{hline 13}
Asset type{space 7} {c |}  {space 27}   {space 6}   {space 19}   {space 13}   {space 13}
  Short-term debt {c |}  {space 22}{result:39.00}   {space 1}{result:-0.00}   {space 15}{result:0.00}   {space 8}{result:-0.00}   {space 9}{result:0.02}
  Long-term debt{space 1} {c |}  {space 22}{result:39.00}   {space 1}{result:-0.00}   {space 15}{result:0.00}   {space 8}{result:-0.00}   {space 9}{result:0.04}
  Equity{space 9} {c |}  {space 22}{result:39.00}   {space 1}{result:-0.00}   {space 15}{result:0.00}   {space 8}{result:-0.01}   {space 9}{result:0.00}
{hline 17}{c -}{c BT}{c -}{c -}{hline 27}{c -}{c -}{c -}{hline 6}{c -}{c -}{c -}{hline 19}{c -}{c -}{c -}{hline 13}{c -}{c -}{c -}{hline 13}
8     2126     4.306e-10     9.983e-10     4.725e-08
{res}
{smcl}
{reset}{...}
{hline 17}{c -}{c TT}{c -}{c -}{hline 27}{c -}{c -}{c -}{hline 6}{c -}{c -}{c -}{hline 19}{c -}{c -}{c -}{hline 13}{c -}{c -}{c -}{hline 13}
{space 17} {c |}  Number of nonmissing values   Median   Interquartile range   Minimum value   Maximum value
{hline 17}{c -}{c +}{c -}{c -}{hline 27}{c -}{c -}{c -}{hline 6}{c -}{c -}{c -}{hline 19}{c -}{c -}{c -}{hline 13}{c -}{c -}{c -}{hline 13}
Asset type{space 7} {c |}  {space 27}   {space 6}   {space 19}   {space 13}   {space 13}
  Short-term debt {c |}  {space 22}{result:39.00}   {space 2}{result:0.00}   {space 15}{result:0.00}   {space 9}{result:0.00}   {space 9}{result:0.00}
  Long-term debt{space 1} {c |}  {space 22}{result:39.00}   {space 2}{result:0.00}   {space 15}{result:0.00}   {space 9}{result:0.00}   {space 9}{result:0.00}
  Equity{space 9} {c |}  {space 22}{result:39.00}   {space 2}{result:0.00}   {space 15}{result:0.00}   {space 8}{result:-0.00}   {space 9}{result:0.00}
{hline 17}{c -}{c BT}{c -}{c -}{hline 27}{c -}{c -}{c -}{hline 6}{c -}{c -}{c -}{hline 19}{c -}{c -}{c -}{hline 13}{c -}{c -}{c -}{hline 13}
2017
0     1     5.329e-14     5.329e-14     4.441e-15
{res}
{smcl}
{reset}{...}
{hline 17}{c -}{c TT}{c -}{c -}{hline 27}{c -}{c -}{c -}{hline 6}{c -}{c -}{c -}{hline 19}{c -}{c -}{c -}{hline 13}{c -}{c -}{c -}{hline 13}
{space 17} {c |}  Number of nonmissing values   Median   Interquartile range   Minimum value   Maximum value
{hline 17}{c -}{c +}{c -}{c -}{hline 27}{c -}{c -}{c -}{hline 6}{c -}{c -}{c -}{hline 19}{c -}{c -}{c -}{hline 13}{c -}{c -}{c -}{hline 13}
Asset type{space 7} {c |}  {space 27}   {space 6}   {space 19}   {space 13}   {space 13}
  Short-term debt {c |}  {space 22}{result:39.00}   {space 2}{result:0.00}   {space 15}{result:0.00}   {space 8}{result:-0.00}   {space 9}{result:0.00}
  Long-term debt{space 1} {c |}  {space 22}{result:39.00}   {space 1}{result:-0.00}   {space 15}{result:0.00}   {space 8}{result:-0.00}   {space 9}{result:0.00}
  Equity{space 9} {c |}  {space 22}{result:39.00}   {space 2}{result:0.00}   {space 15}{result:0.00}   {space 8}{result:-0.00}   {space 9}{result:0.00}
{hline 17}{c -}{c BT}{c -}{c -}{hline 27}{c -}{c -}{c -}{hline 6}{c -}{c -}{c -}{hline 19}{c -}{c -}{c -}{hline 13}{c -}{c -}{c -}{hline 13}
1     2617     4.331e-10     9.981e-10     4.697e-08
{res}
{smcl}
{reset}{...}
{hline 17}{c -}{c TT}{c -}{c -}{hline 27}{c -}{c -}{c -}{hline 6}{c -}{c -}{c -}{hline 19}{c -}{c -}{c -}{hline 13}{c -}{c -}{c -}{hline 13}
{space 17} {c |}  Number of nonmissing values   Median   Interquartile range   Minimum value   Maximum value
{hline 17}{c -}{c +}{c -}{c -}{hline 27}{c -}{c -}{c -}{hline 6}{c -}{c -}{c -}{hline 19}{c -}{c -}{c -}{hline 13}{c -}{c -}{c -}{hline 13}
Asset type{space 7} {c |}  {space 27}   {space 6}   {space 19}   {space 13}   {space 13}
  Short-term debt {c |}  {space 22}{result:39.00}   {space 1}{result:-0.00}   {space 15}{result:0.01}   {space 8}{result:-0.08}   {space 9}{result:0.05}
  Long-term debt{space 1} {c |}  {space 22}{result:39.00}   {space 1}{result:-0.00}   {space 15}{result:0.02}   {space 8}{result:-0.06}   {space 9}{result:0.02}
  Equity{space 9} {c |}  {space 22}{result:39.00}   {space 1}{result:-0.00}   {space 15}{result:0.00}   {space 8}{result:-0.02}   {space 9}{result:0.00}
{hline 17}{c -}{c BT}{c -}{c -}{hline 27}{c -}{c -}{c -}{hline 6}{c -}{c -}{c -}{hline 19}{c -}{c -}{c -}{hline 13}{c -}{c -}{c -}{hline 13}
2     2825     4.370e-10     9.992e-10     4.890e-08
{res}
{smcl}
{reset}{...}
{hline 17}{c -}{c TT}{c -}{c -}{hline 27}{c -}{c -}{c -}{hline 6}{c -}{c -}{c -}{hline 19}{c -}{c -}{c -}{hline 13}{c -}{c -}{c -}{hline 13}
{space 17} {c |}  Number of nonmissing values   Median   Interquartile range   Minimum value   Maximum value
{hline 17}{c -}{c +}{c -}{c -}{hline 27}{c -}{c -}{c -}{hline 6}{c -}{c -}{c -}{hline 19}{c -}{c -}{c -}{hline 13}{c -}{c -}{c -}{hline 13}
Asset type{space 7} {c |}  {space 27}   {space 6}   {space 19}   {space 13}   {space 13}
  Short-term debt {c |}  {space 22}{result:39.00}   {space 1}{result:-0.00}   {space 15}{result:0.02}   {space 8}{result:-0.13}   {space 9}{result:0.02}
  Long-term debt{space 1} {c |}  {space 22}{result:39.00}   {space 1}{result:-0.00}   {space 15}{result:0.02}   {space 8}{result:-0.06}   {space 9}{result:0.03}
  Equity{space 9} {c |}  {space 22}{result:39.00}   {space 1}{result:-0.00}   {space 15}{result:0.00}   {space 8}{result:-0.04}   {space 9}{result:0.00}
{hline 17}{c -}{c BT}{c -}{c -}{hline 27}{c -}{c -}{c -}{hline 6}{c -}{c -}{c -}{hline 19}{c -}{c -}{c -}{hline 13}{c -}{c -}{c -}{hline 13}
3     2398     4.349e-10     9.971e-10     4.981e-08
{res}
{smcl}
{reset}{...}
{hline 17}{c -}{c TT}{c -}{c -}{hline 27}{c -}{c -}{c -}{hline 6}{c -}{c -}{c -}{hline 19}{c -}{c -}{c -}{hline 13}{c -}{c -}{c -}{hline 13}
{space 17} {c |}  Number of nonmissing values   Median   Interquartile range   Minimum value   Maximum value
{hline 17}{c -}{c +}{c -}{c -}{hline 27}{c -}{c -}{c -}{hline 6}{c -}{c -}{c -}{hline 19}{c -}{c -}{c -}{hline 13}{c -}{c -}{c -}{hline 13}
Asset type{space 7} {c |}  {space 27}   {space 6}   {space 19}   {space 13}   {space 13}
  Short-term debt {c |}  {space 22}{result:39.00}   {space 1}{result:-0.01}   {space 15}{result:0.02}   {space 8}{result:-0.14}   {space 9}{result:0.02}
  Long-term debt{space 1} {c |}  {space 22}{result:39.00}   {space 1}{result:-0.00}   {space 15}{result:0.02}   {space 8}{result:-0.06}   {space 9}{result:0.02}
  Equity{space 9} {c |}  {space 22}{result:39.00}   {space 1}{result:-0.00}   {space 15}{result:0.01}   {space 8}{result:-0.04}   {space 9}{result:0.00}
{hline 17}{c -}{c BT}{c -}{c -}{hline 27}{c -}{c -}{c -}{hline 6}{c -}{c -}{c -}{hline 19}{c -}{c -}{c -}{hline 13}{c -}{c -}{c -}{hline 13}
4     2033     4.391e-10     9.978e-10     5.195e-08
{res}
{smcl}
{reset}{...}
{hline 17}{c -}{c TT}{c -}{c -}{hline 27}{c -}{c -}{c -}{hline 6}{c -}{c -}{c -}{hline 19}{c -}{c -}{c -}{hline 13}{c -}{c -}{c -}{hline 13}
{space 17} {c |}  Number of nonmissing values   Median   Interquartile range   Minimum value   Maximum value
{hline 17}{c -}{c +}{c -}{c -}{hline 27}{c -}{c -}{c -}{hline 6}{c -}{c -}{c -}{hline 19}{c -}{c -}{c -}{hline 13}{c -}{c -}{c -}{hline 13}
Asset type{space 7} {c |}  {space 27}   {space 6}   {space 19}   {space 13}   {space 13}
  Short-term debt {c |}  {space 22}{result:39.00}   {space 1}{result:-0.01}   {space 15}{result:0.03}   {space 8}{result:-0.15}   {space 9}{result:0.01}
  Long-term debt{space 1} {c |}  {space 22}{result:39.00}   {space 1}{result:-0.01}   {space 15}{result:0.03}   {space 8}{result:-0.08}   {space 9}{result:0.01}
  Equity{space 9} {c |}  {space 22}{result:39.00}   {space 1}{result:-0.00}   {space 15}{result:0.00}   {space 8}{result:-0.03}   {space 9}{result:0.00}
{hline 17}{c -}{c BT}{c -}{c -}{hline 27}{c -}{c -}{c -}{hline 6}{c -}{c -}{c -}{hline 19}{c -}{c -}{c -}{hline 13}{c -}{c -}{c -}{hline 13}
5     2314     4.385e-10     9.983e-10     5.121e-08
{res}
{smcl}
{reset}{...}
{hline 17}{c -}{c TT}{c -}{c -}{hline 27}{c -}{c -}{c -}{hline 6}{c -}{c -}{c -}{hline 19}{c -}{c -}{c -}{hline 13}{c -}{c -}{c -}{hline 13}
{space 17} {c |}  Number of nonmissing values   Median   Interquartile range   Minimum value   Maximum value
{hline 17}{c -}{c +}{c -}{c -}{hline 27}{c -}{c -}{c -}{hline 6}{c -}{c -}{c -}{hline 19}{c -}{c -}{c -}{hline 13}{c -}{c -}{c -}{hline 13}
Asset type{space 7} {c |}  {space 27}   {space 6}   {space 19}   {space 13}   {space 13}
  Short-term debt {c |}  {space 22}{result:39.00}   {space 2}{result:0.00}   {space 15}{result:0.01}   {space 8}{result:-0.10}   {space 9}{result:0.02}
  Long-term debt{space 1} {c |}  {space 22}{result:39.00}   {space 2}{result:0.00}   {space 15}{result:0.02}   {space 8}{result:-0.08}   {space 9}{result:0.01}
  Equity{space 9} {c |}  {space 22}{result:39.00}   {space 1}{result:-0.00}   {space 15}{result:0.00}   {space 8}{result:-0.03}   {space 9}{result:0.00}
{hline 17}{c -}{c BT}{c -}{c -}{hline 27}{c -}{c -}{c -}{hline 6}{c -}{c -}{c -}{hline 19}{c -}{c -}{c -}{hline 13}{c -}{c -}{c -}{hline 13}
6     2821     4.380e-10     9.980e-10     5.076e-08
{res}
{smcl}
{reset}{...}
{hline 17}{c -}{c TT}{c -}{c -}{hline 27}{c -}{c -}{c -}{hline 6}{c -}{c -}{c -}{hline 19}{c -}{c -}{c -}{hline 13}{c -}{c -}{c -}{hline 13}
{space 17} {c |}  Number of nonmissing values   Median   Interquartile range   Minimum value   Maximum value
{hline 17}{c -}{c +}{c -}{c -}{hline 27}{c -}{c -}{c -}{hline 6}{c -}{c -}{c -}{hline 19}{c -}{c -}{c -}{hline 13}{c -}{c -}{c -}{hline 13}
Asset type{space 7} {c |}  {space 27}   {space 6}   {space 19}   {space 13}   {space 13}
  Short-term debt {c |}  {space 22}{result:39.00}   {space 1}{result:-0.00}   {space 15}{result:0.01}   {space 8}{result:-0.11}   {space 9}{result:0.04}
  Long-term debt{space 1} {c |}  {space 22}{result:39.00}   {space 2}{result:0.00}   {space 15}{result:0.02}   {space 8}{result:-0.09}   {space 9}{result:0.01}
  Equity{space 9} {c |}  {space 22}{result:39.00}   {space 2}{result:0.00}   {space 15}{result:0.00}   {space 8}{result:-0.04}   {space 9}{result:0.01}
{hline 17}{c -}{c BT}{c -}{c -}{hline 27}{c -}{c -}{c -}{hline 6}{c -}{c -}{c -}{hline 19}{c -}{c -}{c -}{hline 13}{c -}{c -}{c -}{hline 13}
7     2591     4.422e-10     9.971e-10     5.056e-08
{res}
{smcl}
{reset}{...}
{hline 17}{c -}{c TT}{c -}{c -}{hline 27}{c -}{c -}{c -}{hline 6}{c -}{c -}{c -}{hline 19}{c -}{c -}{c -}{hline 13}{c -}{c -}{c -}{hline 13}
{space 17} {c |}  Number of nonmissing values   Median   Interquartile range   Minimum value   Maximum value
{hline 17}{c -}{c +}{c -}{c -}{hline 27}{c -}{c -}{c -}{hline 6}{c -}{c -}{c -}{hline 19}{c -}{c -}{c -}{hline 13}{c -}{c -}{c -}{hline 13}
Asset type{space 7} {c |}  {space 27}   {space 6}   {space 19}   {space 13}   {space 13}
  Short-term debt {c |}  {space 22}{result:39.00}   {space 2}{result:0.00}   {space 15}{result:0.00}   {space 8}{result:-0.05}   {space 9}{result:0.00}
  Long-term debt{space 1} {c |}  {space 22}{result:39.00}   {space 2}{result:0.00}   {space 15}{result:0.00}   {space 8}{result:-0.03}   {space 9}{result:0.00}
  Equity{space 9} {c |}  {space 22}{result:39.00}   {space 1}{result:-0.00}   {space 15}{result:0.00}   {space 8}{result:-0.05}   {space 9}{result:0.00}
{hline 17}{c -}{c BT}{c -}{c -}{hline 27}{c -}{c -}{c -}{hline 6}{c -}{c -}{c -}{hline 19}{c -}{c -}{c -}{hline 13}{c -}{c -}{c -}{hline 13}
8     1618     4.410e-10     9.971e-10     5.053e-08
{res}
{smcl}
{reset}{...}
{hline 17}{c -}{c TT}{c -}{c -}{hline 27}{c -}{c -}{c -}{hline 6}{c -}{c -}{c -}{hline 19}{c -}{c -}{c -}{hline 13}{c -}{c -}{c -}{hline 13}
{space 17} {c |}  Number of nonmissing values   Median   Interquartile range   Minimum value   Maximum value
{hline 17}{c -}{c +}{c -}{c -}{hline 27}{c -}{c -}{c -}{hline 6}{c -}{c -}{c -}{hline 19}{c -}{c -}{c -}{hline 13}{c -}{c -}{c -}{hline 13}
Asset type{space 7} {c |}  {space 27}   {space 6}   {space 19}   {space 13}   {space 13}
  Short-term debt {c |}  {space 22}{result:39.00}   {space 1}{result:-0.00}   {space 15}{result:0.00}   {space 8}{result:-0.00}   {space 8}{result:-0.00}
  Long-term debt{space 1} {c |}  {space 22}{result:39.00}   {space 1}{result:-0.00}   {space 15}{result:0.00}   {space 8}{result:-0.00}   {space 8}{result:-0.00}
  Equity{space 9} {c |}  {space 22}{result:39.00}   {space 1}{result:-0.00}   {space 15}{result:0.00}   {space 8}{result:-0.00}   {space 8}{result:-0.00}
{hline 17}{c -}{c BT}{c -}{c -}{hline 27}{c -}{c -}{c -}{hline 6}{c -}{c -}{c -}{hline 19}{c -}{c -}{c -}{hline 13}{c -}{c -}{c -}{hline 13}

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